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FedEx Office swaps land with Toyota for new headquarters campus
Toyota Motor Corp.’s new $300 million U.S. headquarters has the green light now that that Plano city officials have approved the deal. But before that could happen a big land swap had to be engineered in Legacy business park. Toyota is building its more than 1 million-square-foot office campus at the northwest corner of Legacy and Headquarters drives, just south of State Highway 121. That’s where FedEx Office in February announced plans for its 265,000-square-foot business campus in the Legacy West development. When Toyota came along, the giant automaker needed a large tract for its construction. And FedEx was taking only part of the land on the northwest corner. Dallas Morning News
Submitted 2 years 105 days ago

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GM Arlington Plant celebrates its 60th anniversary today
Gov. Rick Perry will attend a 60th anniversary celebration this morning at the General Motors Assembly Plant in Arlington. The plant, whose first vehicle in 1954 was a black Pontiac Chieftain sedan, is at a peak in its long, sometimes turbulent history. It is now GM’s only domestic full-size SUV plant, producing 2015 Chevrolet Tahoes, GMC Yukons and Cadillac Escalades. Demand for the new SUVs – some of GM’s most profitable vehicles – has been so high that the plant has worked overtime lately. When the plant was retooled for the new SUVs, it also added a third shift and a $200 million stamping facility. It now employs more than 4,400 people, the most in a decade. Dallas Morning News
Submitted 2 years 105 days ago

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Toyota exec: Vendors don't have to move to Texas
LAS VEGAS -- Vendors such as advertising agency Saatchi & Saatchi Los Angeles and experiential marketing firm George P. Johnson will "have to decide for themselves" whether to move employees or set up offices near Toyota's new Plano, Texas, headquarters, Toyota's top marketing executive said. "There is no mandate" for vendors to move, said Jack Hollis, Toyota Motor Sales U.S.A.'s vice president of marketing, "but as partners they have to decide how they best can serve us." He added: "'Come with us' doesn't have to mean physically. We won't dictate that." Automotive News
Submitted 2 years 105 days ago

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Duke Energy to Build Natural-Gas Facility in Florida
Duke Energy Corp. on Tuesday unveiled plans to remake its power-generating facilities in Florida, including the construction of a natural gas-powered facility near its Crystal River facility. The company said it would propose the construction of the new plant near its Crystal River Energy Complex in Citrus County. The project is expected to cost $1.5 billion, the company said. Pending regulatory approval, Duke said it expects to start building the plant in early 2016, with the first 820 megawatts of power slated to come online in spring 2018. The second 820 megawatts are expected to become available in December 2018, the company added. The Wall Street Journal
Submitted 2 years 105 days ago

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Southern Ionics Invests Over $100 Million & Creates 125 Jobs GA!
The Mississippi-based chemical manufacturer, Southern Ionics will invest more than $100 million in Charlton, Brantly and Pierce counties over the next two years creating 125 jobs. GPB.org
Submitted 2 years 105 days ago

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New aluminum plant to be built in Kentucky, $150M investment
Kentucky Gov. Steve Beshear has announced that a joint venture company has plans to build an aluminum production facility in Bowling Green, Kentucky. The joint venture is between Europe-based Constellium N.V. and Japan-based UACJ Corp. The governor says the $150-million plant will manufacture aluminum sheet for the automotive industry and is expected to create 80 new jobs. The joint venture is subject to regulatory approval. Recyclingtoday.com
Submitted 2 years 105 days ago

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U.S. Chamber of Commerce Foundation: Dallas is the best place for startups
Dallas is the friendliest city in the nation for entrepreneurs, according to a study conducted by the U.S. Chamber of Commerce Foundation. The foundation recently released its Regulatory Climax Index, which scores cities based on regulations for starting a business, dealing with construction permits, registering property, paying taxes and enforcing contracts. Dallas Business Journal
Submitted 2 years 105 days ago

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USTA Will Combine Its New York and Boca Raton Operations in Orlando
The United States Tennis Association, in line for state and local incentives, plans to build a state-of-the-art facility at Lake Nona in Orlando that will consolidate divisions from New York and Boca Raton. Gov. Rick Scott and the non-profit USTA announced the $60 million, 63-acre, 106-court project today (May 14). Flaglerlive.com
Submitted 2 years 105 days ago

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With little historical data, hard to measure success of TN film incentives
The renewal of "Nashville" has energized the debate over whether the state and Metro should offer incentives for local filming and production projects, but in Tennessee, little historical data exists to shows how the incentive program is working. Nashville Business Journal
Submitted 2 years 105 days ago

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$62M Tunica casino sale falls through
It turns out Fitzgerald’s Casino won’t have a new owner after all. Full House Resorts (NASDAQ: FLL), which was planning to acquire the Tunica casino for $62 million, is looking to terminate the agreement to buy Fitzgerald’s because of issues over financing the deal. Memphis Business Journal
Submitted 2 years 105 days ago

 

 

 

Features & Opinion

 Randle Report - Business News in the South

For those who still languish over "losing to China" or believe that the economy is still in recession, wake up and smell the data. Economic development in the South was about as good as it gets in calendar year 2015 according to the data. And as for China, borrowing a quote from the late football coach Bear Bryant that he made in the half-time locker room down 15-0 to Georgia Tech in 1960, "We got 'em right where we want 'em." For those of you who don't know the rich history of Alabama Crimson Tide football, Bama scored all of its 16 points in the fourth quarter, kicking a field goal on the last play of the game to beat Tech 16-15.
 

 Randle Report - Business News in the South

 FEATURE  
By Mike Randle
Today, factories in the U.S. make twice as much product as they did in 1984. And they are doing it with one-third of the manufacturing workforce. In fact, the output of durable goods in 2015 was the highest in the nation's history. So, we do have a strong manufacturing base, at least in the South, much of the Midwest and parts of the West, and it is getting stronger because on a cost-basis, we can compete with any major manufacturing nation in the world.  
 

 Randle Report - Business News in the South

FEATURE     
The argument for or against a minimum wage hike continues between the reds and the blues, as well as within the economic development community in the South. Should we stay the course with a minimum wage under $8 an hour to better compete with Mexico, the South's biggest competitor for jobs, or set a minimum wage just over $10 an hour, a wage floor most centrists support? That $10 per hour is, according to the MIT Living Wage Calculator, about right in most states in the South for one adult to be able to cover basic expenses plus all relevant taxes.
 
 Randle Report - Business News in the South
Recent data from the Computing Technology Industry Association (Comp TIA) showed that the technology industry is one of the fastest growing job generators in the South and the nation. The report also indicated that technology job compensation is growing faster than any other sector.
 


 

 

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